Tawnya King

16 Sep 2022

Man Vs. Machine: Why Using a Human Mortgage Professional Is Better Than Trusting an App

Home Mortgage Tips

Are you currently house-hunting or plan to be in the near future? If you plan on using mortgage financing to pay for your home, you will soon discover that there's no shortage of options available to you. You can meet with a local mortgage professional, apply for mortgages online and even download mobile apps that promise to set you up with a mortgage. However, is every option equal? Let's explore why, in the epic battle of man versus machine, you will want to place your trust in a human mortgage professional. Human Mortgage Professionals Have Local Experience The first and…

15 Sep 2022

By Tawnya King

What To Know About Your Debt-To-Income Ratio When Buying A Home

Mortgage

When you apply for a mortgage, your lender will do some quick math to figure out how much of a loan you can afford. Your lender will consider many factors, and one of the most important ones is your debt-to-income ratio. It is usually shortened to DTI, and understanding this formula can help you better understand how big of a house you can afford. An Overview Of A DTI Your DTI represents the amount of money you spend compared to the amount you make. Your lender is going to have very strict DTI requirements when deciding whether you can be…

14 Sep 2022

By Tawnya King

The Quick and Easy Guide to Determining How Big of a Mortgage Your Family Can Afford

Home Mortgage Tips, Mortgage Tips

Are you shopping around for a new house or apartment? One of the key considerations you will need to make is figuring out how much you want to invest in your new home. Below you'll find our quick and easy guide to determining just how much "house" you can afford. Let's get started! Start By Making A Proper Budget The first thing you'll want to do is sit down and get a full budget put together. The easiest way to get the process started is to begin with two lists: income and expenses. For the income list, write down the…

13 Sep 2022

By Tawnya King

The Minimum Credit Score For VA Home Loan Approval: What To Know

Mortgage

When you are applying for a home loan, you need to make sure that you meet the minimum credit score requirements. If you decide to go with a traditional loan, the credit limit can be high, making it hard to qualify for a home loan. In contrast, you might be able to qualify for a VA home loan with a much lower credit score. What do you need to know? The VA Does Not Have A Minimum Credit Score Requirement One of the major benefits of applying for a VA home loan is that you do not need to worry…

12 Sep 2022

By Tawnya King

What’s Ahead For Mortgage Rates This Week – September 12, 2022

Financial Reports

Last week’s economic reporting was minimal due to the Labor Day Holiday. Fed Chair Jerome Powell Weekly readings on mortgage rates and jobless claims were also released. Fed Chair: Rates Expected to Remain Higher Chair Powell said that interest rates will remain high for a longer than expected time as “history cautions against prematurely loosening [monetary] policy.” The Federal Reserve has a legislative mandate to maintain its target interest rate range at or near 2 percent, During a discussion at the Cato Institute, Chair Powell said that the longer inflation remains above the target rate range the more likely the…

09 Sep 2022

By Tawnya King

Important Things To Know Before Signing Your Reverse Mortgage

Mortgage Tips

There are many reasons people take out reverse mortgages. However, this option is usually considered by cash-strapped seniors who own their homes and are looking to ease the burden of their golden years. The beauty of reverse mortgages is that you'll receive money as long as you are current on property taxes and homeowners insurance. While this seems like an appealing opportunity, it's a decision that should not be made lightly. Not only is the reverse mortgage complicated in itself, but homeowners make all sorts of mistakes when they're too quick to sign the dotted line. So if you're considering…

08 Sep 2022

By Tawnya King

The Top Tips For Finding The Right Home

Home Buyer Tips

If you are in the process of looking for a new home, you have probably realized that there are lots of options available. It can be very difficult to decide which home is right for you, but there are several important tips you should keep in mind. They include: 1. Make A List Of Your Wants And Needs First, make a list of what you need to have and what you want to have. It is very difficult to find the perfect home, but if you have a list that allows you to prioritize what is most important, the process will…